Exercise no. 1 / COMFOE
SUBJECT: Economic And Financial Management
AIMS
Financial Statements: understanding and organization
DESCRIPTION OF THE ACTIVITY
These are the items in your accounting books, alphabetically ordered. Provide the Balance sheet and Income Statement formally organized and understand the meaning of every account. At the end of the year (31st Dec)
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|
Account
|
Balance
|
This item belongs to...
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|
1
|
Amortization of intangible assets
|
300
|
P&L
|
|
2
|
Banks (Money in the bank account)
|
33.563
|
Assets
|
|
3
|
Changes in inventory of raw materials (negative, expense)
|
200
|
P&L
|
|
4
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Computer software (*)
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1.900
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Intangible assets
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|
5
|
Current debt with financial institutions
|
12.000
|
liability
|
|
6
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Depreciation of PPE
|
7.900
|
P&L
|
|
7
|
Furniture (*)
|
7.100
|
PPE
|
|
8
|
Independent professional services
|
1.700
|
P&L
|
|
9
|
Interest on loans
|
2.800
|
P&L
|
|
10
|
IT equipment (*)
|
3.000
|
PPE
|
|
11
|
Leases and royalties
|
9.000
|
P&L
|
|
12
|
Legal reserve
|
2.200
|
Net Equity
|
|
13
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Motor vehicles
|
30.000
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Assets
|
|
14
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NC payables to suppliers of Fixed Assets
|
10.000
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Liability
|
|
15
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Other finance incomes
|
600
|
P&L
|
|
16
|
Other installations (*)
|
19.000
|
Assets
|
|
17
|
Payables for the rendering of services
|
14.300
|
Liability
|
|
18
|
Raw materials
|
1.800
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Assets
|
|
19
|
Raw materials purchased
|
41.000
|
P&L
|
|
20
|
Repairs and maintenance
|
800
|
P&L
|
|
21
|
Revenues
|
100.000
|
P&L
|
|
22
|
Salaries and wages
|
50.000
|
P&L
|
|
23
|
Share capital
|
45.000
|
Net Equity
|
|
24
|
Social Security contributions paid for by the company
|
15.000
|
P&L
|
|
25
|
Social Security, payables
|
18.000
|
Liability
|
|
26
|
Suppliers (accounts payable)
|
45.100
|
Liability
|
|
27
|
Tax Authorities, payables
|
10.323
|
Liability
|
|
28
|
Trade receivables
|
29.560
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Assets
|
|
29
|
Utilities
|
2.500
|
P&L
|
|
30
|
Volume discounts given to customers
|
400
|
P&L
|
(*) This is the net amount once accumulated amortization or depreciation have been subtracted.